05.24.24

Senate Bill Would Force SEC To Weigh Economic Impact on Small Advisors

by: Tracey Longo

The U.S. Securities and Exchange Commission (SEC) would have to consider how its rules economically impact small advisors under legislation being considered by the U.S. Senate. This Small Entity Update Act, which passed the House with strong bipartisan support last year, would require the SEC to consider the impact of its regulations on smaller advisors and other firms that it regulates and determine whether there are less burdensome means of achieving regulatory goals. The bill also would require the regulator to expand the number of firms it defines as small.

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